Looking into getting key person insurance for your business? Here you’ll find more information and how we can help you.
Policy proceeds are paid directly to the business to help replace the key person and cover any revenue loss.
It provides stakeholders with the confidence that your business can survive in the event of losing a key person through death or critical illness.
Our specialist knowledge means that we can advise you on how to best navigate the complexities of insurance, ensuring that you make the right decision for you and your business.
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Key Individual Cover
Key Person Insurance protects a business from the loss of a key individual. It covers death, terminal illness or critical illness.
A successful business has talented capable people without whom the business could not survive. A key person is anyone who is crucial to the day-to-day running of a business. Anyone with a specific skill, knowledge or experience whose loss would affect the business revenue.
A Key Person insurance policy is an insurance policy that protects a business from the loss of a key individual. It covers death, terminal illness or critical illness.
Just like Life Insurance, Relevant Life Insurance will pay out in the event of a death occurring. But the added bonus with Relevant Life Insurance is that if you run your own business you can run your policy through this, creating a tax saving.
Shareholder Protection pays out a lump sum of money to the remaining business owners to help buy the deceased/critically ill business partner out.
Similar to a personal income protection plan, if you are unable to work due to illness or accident, Executive Income Protection plans will pay you a monthly income, but is payable as a business expense and will also protect pension contributions too.
A Key Person insurance policy is an insurance policy that protects a business from the loss of a key individual. It covers death, terminal illness or critical illness.
Business Protection Insurance is completely tailored to you, the cost of insurance is all dependent on your budget, and we tailor all our packages to ensure they fit within your budget.
It all depends on who is the best for you and your business needs. Insurance providers don’t have a one size fits all product, that’s why it is so important to have insurance advice to be sure your protection needs.
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